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1. MORE ECLIPSES
2. MONICA MISSILES
3. UP STARS, DOWN STARS
4. IHI
5. LETTERS
September 6 will be the third summer eclipse before October. First for Russia (and US embassies), Second for Clinton (and Sudan/Afghanistan) and the Third for? China? Japan? Venezuela? Brazil? Mexico? Canada? USA? IT DOES NOT MATTER! It does not matter if there is one more buying on dip opportunity or not. It is perhaps THE final sell on rallies. If you are a prudent investor, your course is clear.
PAINE WEBBER SAYS THIS BULL MARKET IS NOT OVER....
THE ASTROLOGERS FUND SAYS IT IS.
Who is Right? How does it matter to your investment and trading strategies?
Markets technicians/gamblers remain very bullish. A final rally before the FALL is possible, so it may be possible to continue to make money trading by either buying on dips and/or selling on rallies. If you are positional, the R/R is better on the net short side.
We enter Monday short, but are prepared to give way to any mad bull rally. Even so, be prepared for a Wednesday decline.
SPU 1050-55 and DJIA 8250-8330 CRITICAL SUPPORT.
If broken, 7908 is Do or Die.
KEY DATE August 24, 26
SPU: 1080 PIVOT
DJIA: 8250-8300 First line of defense
Hong Kong: Retest of 1998 lows
2. Mercury/Uranus/Pluto - Surprise, Surprise. Just when he had IMHO solved the Monica problem, he blew it (up) on Thursday. We now believe Clinton's chance of completing his term of office is now less than 50% due to his untimely launching of the Monica missiles last Thursday. Just as Clinton is NO JFK (compare M Lewinsky to M Monroe), he is NO Ronald Reagan. Their improving prospects for victory in the forthcoming 1998 and 2000 elections is beginning to give some Republican politicians wet dreams.....
3. While there are hardly any bargain stocks, some valuation will slowly return. Stay tuned for our forthcoming premium subscriber channel UP STARS, DOWN STARS, where we will be offering timely investing and trading ideas with periodic updates. Here are some of the current offerings:
UP STARS
Oxford Health Plan (OXHP) 1999 Target 11+ 2000 Target 20+.
Travellers (TRV) Start to accumulate mid-40's.
Boeing (BA) Currently at 52 week low, and therefore an investing buy in big rallies.
Johnson and Johnson (JNJ) A strong defensive stock and trading buy on dips.
DOWN STARS
Dell Computer (DELL) 122 P1 target 109.
American On line (AOL) P1 target <100.
Telemex (TMX) Continued good intermediate term short to 31.
4. The following is abstracted from our forthcoming IHI report:
I am now back from Vancouver, B.C., where I joyfully partaked of IHI day: August 15, 1998. The Delta factory is almost complete, with final touches expected to be finished in three weeks. This Hi-Tech factory is an inspiring building with a cathedral-like feeling and GREAT Feng Shui. See current factory progress on their web site: IHI .....
AFUND EPS projections are based on $ 20 million per production line.
Each factory is expected to have at least 3 lines = greater than $1 per share.
Assuming Delta factory completed this year, and ONLY 2 more factories completed in 1999 and 5 more in 2000 and 10 more in 2001, I conservatively estimate their EPS as follows:
1999 $ 0.35
2000 $ 1.50+
2001 $ 5.00+
2002 $18.00+
It is easy to see why I have been so wildly enthusiastic about IHI. And their 5 year business plan is to build a total of 25 by 2004.... Now you see why I continue to keep my wine cellar ready to be stocked with champagne presents from clients and friends when IHI stock reaches $30.
5. Henry, looking forward to your new attempt at 'daily' comments. Do u have any particular time in mind when u might be posting them?
HW: Yes BEFORE market open. Certain days we may add our 3 pm gold subscribers version. Remember, WSNW Trading updates DAILY MARKET COMMENT requires a password. To receive your password email us. Until the end of August, use the name "WSNW" and password "subscriber"
Q: First, are there any reviews of the astrological trading software? I am considering either Bill Meridian's or Jeanne Long's software. There are others and I would like to know about them in order to decide which one to get. Second question is how to you buy IHI?
A: (1) We will having a review of financial astrology software up on our web site shortly.
(2) IHI can be purchased as IHITF on the US Bulletin Board or IHI on the Vancouver Stock Exchange. When directing orders to you broker: Ask them to direct their trader to take the best price on both exchanges.
Q: Do you have information or data on the Australian stock market?
A: Currently I don't track. Australia aligned with Asia at just the WRONG time. I do not have any personal interest there until next year, when the A$ and natural resources will improve. On today's watch list: just BHP (Broken Hill Proprietary).
Hi Henry~Thank You for reminder about Eclipse coming up. I do look for short-lived price dip during 08-20/21 with rally 08-24/25 and then softness into pre-Labor Day weekend to setup "explosive Advance" into mid-Sept. or probably early-October when New All_Time Highs should be evidenced [contrary to popular opinion]. Best success 'timing' your Futures!
HW: Technically, the rally you mention is called for, but that ignores future Real World disasters. I am more comfortable holding cash, shorting and stepping aside for any mad bull stampedes.
Clinton's strategy of throwing up distractions, the closer Judge Starr draws near to proving this emperor prances about without clothes, it is the only way from preventing a Bear Market on Wall Street.
HW: Too late - the bear market started July 20!
You wrote: "[08/21] Eclipse tonight on Clinton Sun and Monica's Venus: finally it will BE OVER one way or another."
Q: Are you saying the entire scandal will be all over? That the market will be all over (ie. collapse down)? That the correction will be all over (skyrocket up)? I'm a subscriber and know that you cannot make specific predictions, but I'm confused.
A: Gee and I thought I could make specific predictions! :( I was referring to Clinton's survivability. To my mind, he is now finished in 1999. (Of course, I could always hedge it with, "he won't be in office in 2000!")
I see a POTENTIAL major bullish signal on the MONTHLY gold chart. Too early, not confirmed, but if it materializes, it would be a long-term signal (months rather than days, possibly years). This signal occurs at points of dramatic trend change. Since it is a monthly signal, it could take another 1 to 4 months to finalize. I may be influenced by optimism here, but I think it will happen sooner rather than later. Unfortunately, as always, it may not materialize at all.
HW: Couldn't agree with you more!
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